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☆ China's Aug new yuan loans seen rebounding on policy support
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

Chinese banks are estimated to have issued 1.20 trillion yuan ($163.41 billion) in net new yuan loans last month, more than triple July's 345.9 billion yuan, according to the median estimate in the survey of 20 economists. But that would be lower than 1.25 trillion yuan issued the same month a year earlier. Outstanding yuan loans were expected to grow by 11.1% in August from a year earlier, the same as in July, the poll showed. China is aiming to complete the issuance of the 2023 special local government bonds quota of 3.8 trillion yuan by end-September. In August, TSF is expected to jump to 2.46 trillion yuan from 528.2 billion yuan in July.

Persons: TSF, Li Qiang, Judy Hua, Kevin Yao, Tomasz Janowski Organizations: Citi, Thomson Locations: BEIJING, China

The reading was also much lower than 679 billion yuan in July 2022. "China’s bank loan growth fell to its lowest in seven months in July, while broad credit growth dropped to a record low," Capital Economics said in a note to clients. Hobbled by weak demand at home and abroad, China's economic momentum has faltered in recent months despite strong bank lending in the first half. Outstanding yuan loans expanded by 11.1% in July from the year before, the lowest so far this year, compared with 11.3% growth the previous month. In July, TSF slumped to 528.2 billion yuan from 4.22 trillion yuan in June.

Persons: Florence Lo, Luo Yunfeng, TSF, Qiaoyi Li, Kevin Yao, Kim Coghill Organizations: REUTERS, People's Bank of China, Reuters, Huajin Securities, Analysts, Thomson Locations: BEIJING, China, Beijing, Central, TSF

☆ China's July new yuan loans seen dipping after record H1 - Reuters poll
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +3 min

Chinese banks are estimated to have issued 800 billion yuan ($110.98 billion) in net new yuan loans last month, down sharply from 3.05 trillion yuan in June, according to the median estimate in the survey of 29 economists. But the expected new loans would be higher than the 679 billion yuan issued in the same month a year earlier. Chinese banks doled out 15.73 trillion yuan in new loans in the first six months of this year, the highest first-half number on record, central bank data showed. Outstanding yuan loans were expected to grow by 11.3% in July from a year earlier, the same as in June, the poll showed. In July, TSF is expected to fall sharply to 1.10 trillion yuan from 4.22 trillion yuan in June.

Persons: Kim Kyung, TSF, Judy Hua, Kevin Yao, Conor Humphries Organizations: REUTERS, Thomson Locations: Beijing, China, BEIJING

Economists polled by Reuters had expected new yuan loans would jump to 1.6 trillion yuan last month, versus 718.8 billion yuan in April and against 1.89 trillion yuan a year earlier. Outstanding yuan loans in May grew 11.4% on year compared with 11.8% growth the previous month. Household loans including mortgages were up 367.2 billion yuan in May, versus a contraction of 241.1 billion yuan in April. Corporate loans rose to 855.8 billion yuan in May from 683.9 billion yuan in April, central bank data showed. In May, TSF rose to 1.56 trillion yuan from 1.22 trillion yuan in April.

Persons: Zhiwei Zhang, Yi Gang, Nomura, TSF, Qiaoyi Li, Judy Hua, Kevin Yao, Jacqueline Wong Organizations: People's Bank of China, Reuters, PMI, Capital, Analysts, U.S, Thomson Locations: BEIJING, Shanghai, Beijing, U.S . Federal, TSF

Regional and global markets on Friday chalked up solid gains and volatility measures slumped after the release of forecast-smashing U.S. jobs figures. It looks like the 'sell in May and go away' maxim won't apply this year - investors are bullish and they are buying. Looking ahead, investors in Asia have plenty of economic events and monetary policy decisions to get their teeth into this week. Inflation data from Indonesia, the Philippines, Thailand, Taiwan and China will be released, starting with Indonesia on Monday. Economists polled by Reuters expect annual CPI inflation eased in May to a one-year low of 4.22% from 4.33% in April.

Persons: Jamie McGeever, Diane Craft Organizations: Nikkei, Manufacturing, U.S . State Department, Indonesia, Reuters, Reserve Bank of Australia, Reserve Bank of, Indonesia CPI, Thomson Locations: U.S, Asia, Japan, China, India, Australia, Korea's, Beijing, Indonesia, Philippines, Thailand, Taiwan, Reserve Bank of India, Singapore

New bank lending fell much less than expected in February from a record high the previous month. Chinese banks extended 1.81 trillion yuan ($260 billion) in new loans last month. Analysts polled by Reuters had predicted they would fall to 1.50 trillion yuan from 4.9 trillion yuan in January, and compared with 1.23 trillion yuan a year earlier. Household loans, mostly mortgages, fell to 208.1 billion yuan in February from 257.2 billion yuan in January, while corporate loans fell to 1.61 trillion yuan from 4.68 trillion yuan. TSF for the month of February fell to 3.16 trillion yuan from 5.98 trillion yuan in January, but was still well ahead of expectations for 2.20 trillion yuan.

Analysts polled by Reuters had predicted new yuan loans would drop to 1.1 trillion yuan in December from 1.21 trillion yuan the previous month. New bank lending hit a record 21.31 trillion yuan in 2022, up from 19.95 trillion yuan in 2021 - the previous record. Broad M2 money supply grew by 11.8% in December from a year earlier, central bank data showed, below estimates of 12.2% forecast in the Reuters poll. Outstanding yuan loans grew by 11.1% in December from a year earlier compared with 11.0% growth in November. In December, TSF fell to 1.31 trillion yuan from 1.99 trillion yuan in November.

Analysts polled by Reuters had predicted new yuan loans would jump to 1.35 trillion yuan in November. Household loans, including mortgages, rose to 262.7 billion yuan in November, versus a contraction of 18 billion yuan in October. Corporate loans rose to 883.7 billion yuan from 462.2 billion yuan in October. New loans totalled 19.91 trillion yuan in January-November, central bank data showed, compared with a record 19.95 trillion yuan in 2021. Outstanding yuan loans grew 11.0% in November from a year earlier compared with 11.1% growth in October.

Analysts polled by Reuters had predicted new yuan loans would fall to 800 billion yuan in October. Household loans, including mortgages, contracted by 18 billion yuan in October, versus 650.3 billion yuan in September, while corporate loans dropped to 462.2 billion yuan from 1.92 trillion yuan, central bank data showed. China's local governments issued a net 24.1 billion yuan in special bonds in September, the finance ministry has said, down from 51.6 billion yuan in August. China's local governments issued a net 24.1 billion yuan in special bonds in September, the finance ministry has said, down from 51.6 billion yuan in August. In October, TSF fell sharply to 907.9 billion yuan from 3.53 trillion yuan in September.

Chinese banks are estimated to have issued 800 billion yuan($110.4 billion) in net new yuan loans last month, falling sharply from 2.47 trillion yuan in September, according to the median estimate in the survey of 27 economists. That would be lower than the 826.2 billion yuan issued in the same month a year earlier. In October, the People's Bank of China made 154.3 billion yuan in loans to three policy banks via its PSL facility, central bank data showed. Outstanding yuan loans were expected to grow by 11.2% in October from a year earlier, unchanged from September, the poll showed. China's local governments issued a net 24.1 billion yuan in special bonds in September, the finance ministry has said, down from 51.6 billion yuan in August.

☆ China new bank lending nearly doubles after central bank help
▼ + stars: | 2022-10-11 | by ( Judy Hua | Kevin Yao | ) www.reuters.com time to read: +4 min

FILE PHOTO: Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. Analysts polled by Reuters had predicted new yuan loans would rise to 1.80 trillion yuan in September. New yuan loans totalled 18.08 trillion yuan in the first nine months, rising 1.36 trillion yuan from a year earlier, central bank data showed. Broad M2 money supply in September grew 12.1% from a year earlier, central bank data showed, in line with analysts’ forecasts in a Reuters poll. In September, TSF rose to 3.53 trillion yuan from 2.43 trillion yuan in August.

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